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Nov 1, 2012
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gm says it could lose as much as $1.8 billion. 18.5 million. that's the number of europeans who are currently unemployed. the region's jobless rate hit an all-time high in september of 11.6%. 146,000 people lost their jobs in the last month. spain and greece have the highest unemployment rates - both hover around 25%. young people have been hit the hardest - 3.5 million young people under the age of 25 are out of work. jpmorgan is still chasing down employees involved in the bank's massive $6-billion trading loss. reports say jpmorgan is suing the man who supervised "bruno iksill," the trader known as the london whale. iksill is said to be responsible for taking supersized positions in deravitives that led to multi-billion losses this year for jpmorgan. his boss, javier martin artajo, is now being sued in a british court by the bank. facebook is feeling the post- lock-up pinch and slipped a little. about 229 millon shares expired this week, giving faceboook employees the right to sell their stock as part of an agreement after facebook's ipo. bu
gm says it could lose as much as $1.8 billion. 18.5 million. that's the number of europeans who are currently unemployed. the region's jobless rate hit an all-time high in september of 11.6%. 146,000 people lost their jobs in the last month. spain and greece have the highest unemployment rates - both hover around 25%. young people have been hit the hardest - 3.5 million young people under the age of 25 are out of work. jpmorgan is still chasing down employees involved in the bank's massive...
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Oct 31, 2012
10/12
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gm scoring big beats in the second quarter. the auto maker earned 93 cents a share for the quarter, that was well above the 60 cents the street had been looking for. phil lebeau has a special guest joining him to talk more about this. phil? >> thank you, becky, i'm joined by the cfo of general motors joining us on the "squawk" news line first on cnbc. when you look at you guys earning 33 cents more than the street was expecting. >> well, phil, i'd say overall it was a good quarter for us. and a challenging environment. being able to grow revenue, grow profits as you mentioned year-over-year. our margins are up slightly, strong cash flow. got some important launches away this quarter in terms of new vehicles into the market for cadillac and other of our brands. so good quarter overall, and we've made some progress on some of the tough issues in front of us including pensions and we're making reasonable progress in europe. >> and we'll talk about europe in a bit. but i want to ask you about revenue. nearly $2 billion better than
gm scoring big beats in the second quarter. the auto maker earned 93 cents a share for the quarter, that was well above the 60 cents the street had been looking for. phil lebeau has a special guest joining him to talk more about this. phil? >> thank you, becky, i'm joined by the cfo of general motors joining us on the "squawk" news line first on cnbc. when you look at you guys earning 33 cents more than the street was expecting. >> well, phil, i'd say overall it was a good...
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Oct 31, 2012
10/12
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yes. >> look, the gm one is highly misleading. the jeep one is a total lie. if mitt romney was pressed on this in a court case, it would be perjury. you could go to jail for lying this straightforward and this obviously. so that's a huge problem for him and his trust and the fact they're doubling down on it tells you a lot about where they are at. you know, he was also pressed today to answer questions on fema. he wouldn't answer. they wouldn't state a position on affirmative action even though it was in the supreme court this year, and obama did. there are still important issues where they will not tell the truth or give any answer at all. >> and i -- he's not trying to trick the jeep workers in toledo who know the truth. >> right. >> he's trying to get other people in ohio who don't have someone at the kitchen table who can tell them exactly how it works at chrysler. >> yeah, this is sort of like targeting messaging for low-information voters. i mean to your point. >> and doing it at the last minute. >> the last minute. it's harder to rebut. and one other p
yes. >> look, the gm one is highly misleading. the jeep one is a total lie. if mitt romney was pressed on this in a court case, it would be perjury. you could go to jail for lying this straightforward and this obviously. so that's a huge problem for him and his trust and the fact they're doubling down on it tells you a lot about where they are at. you know, he was also pressed today to answer questions on fema. he wouldn't answer. they wouldn't state a position on affirmative action even...
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Oct 31, 2012
10/12
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the ad says under president obama, gm cut 15,000 jobs and planning to double the number of cars built in china. and the ad said chrysler also plans to start making jeeps in china. but a general motors spokesman told "the detroit free press," quote, we've clearly entered some parallel universe during these last few days. no amount of campaign politics at its cynical worst will diminish our record of creating jobs in the u.s. and repatriating profits back into this country. okay. >> willie, what do you think of cargate? >> cargate. they shouldn't lie. >> i think it's subjectively untrue. the ad. i think that pretty much ends it, right? it's false. no? >> what romney said on the stump was false. the ad is true. >> right. >> it's misleading, but it's true. >> explain what you mean. >> i'm sorry. what? >> production in the u.s. that exists. they're making jeeps in the u.s., selling them in the u.s. they're talking about making jeeps to sell in china in china. romney initially suggested on the stump, wrongly, that they were going to move all jeep production to china, including selling -- bu
the ad says under president obama, gm cut 15,000 jobs and planning to double the number of cars built in china. and the ad said chrysler also plans to start making jeeps in china. but a general motors spokesman told "the detroit free press," quote, we've clearly entered some parallel universe during these last few days. no amount of campaign politics at its cynical worst will diminish our record of creating jobs in the u.s. and repatriating profits back into this country. okay....
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Oct 31, 2012
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obama took gm and chrysler into bankruptcy and sold chrysler to italians who are going to build jeeps in china. mitt romney will fight for every american job. >> i'm mitt romney and i approve this message. >> despite chrysler's flat-out denial of romney's china claim, the romney campaign took his lie a step further today with this radio ad in toledo, ohio, which is home to a jeep plant. >> barack obama says he saved the auto industry, but for who? ohio or china? under president obama, gm cut 15,000 american jobs, but they're planning to double the number of cars built in china which means 15,000 more jobs for china. and now comes word that chrysler plans to start making jeeps in, you guessed it, china. what happened to the promises made to autoworkers in toledo and throughout ohio? >> that provoked general motors spokesman to release this statement "we've clearly entered some parallel universe during these last few days. no amount of campaign politics at its since call worst will diminish our record of creating jobs in the u.s. and repatriating profits back to this country." and in an
obama took gm and chrysler into bankruptcy and sold chrysler to italians who are going to build jeeps in china. mitt romney will fight for every american job. >> i'm mitt romney and i approve this message. >> despite chrysler's flat-out denial of romney's china claim, the romney campaign took his lie a step further today with this radio ad in toledo, ohio, which is home to a jeep plant. >> barack obama says he saved the auto industry, but for who? ohio or china? under...
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Oct 31, 2012
10/12
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just before the bell, we'll hear from gm, mastercard and mgm resorts, southern company, and waste management. >>> still to come, we'll continue our coverage of sandy. after the break, we'll get a forecast of some of the weather channel and we'll find out how it could impact the election as the president gets set to tour new jersey. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. >>> you are watching "worldwide exchange" and these are your headlines. sandy leaves a massive path of devastation in its wake as r residents belong a long and costly recovery process. >>> barclays with two new investigations in the u.s. as the bank u
just before the bell, we'll hear from gm, mastercard and mgm resorts, southern company, and waste management. >>> still to come, we'll continue our coverage of sandy. after the break, we'll get a forecast of some of the weather channel and we'll find out how it could impact the election as the president gets set to tour new jersey. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get...
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Oct 31, 2012
10/12
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when you look at ford and general motors after their quarterly reports, gm reported today. ford actually reported yesterday despite the stock exchange was closed. both reports were good. both beat the street. both are up arrows. ford is up 6 1/2%. gm is doing really well after beating the street. they are seeing numbers surpassing estimates. tomorrow, we'll be key for auto sales. we'll get in other economic news. weekly jobless claims. friday will be the jobs report. certainly everybody is trying to get back to a sense of normalcy here. i'm hearing about guys talking about sleeping in host tolls, going to homes with power. everybody is contending and juggling a lot as they try to continue to keep markets running smoothly. back to you. cheryl: nicole, thank you very much. got brakinging news. ashley: we certainly do. the "new york post" reporting that mayor bloomberg will temporarily be banning passenger cars from entering manhattan. of course this is the as the city struggles to recover from hurricane sandy. the streets today were absolutely at a standstill. took people hou
when you look at ford and general motors after their quarterly reports, gm reported today. ford actually reported yesterday despite the stock exchange was closed. both reports were good. both beat the street. both are up arrows. ford is up 6 1/2%. gm is doing really well after beating the street. they are seeing numbers surpassing estimates. tomorrow, we'll be key for auto sales. we'll get in other economic news. weekly jobless claims. friday will be the jobs report. certainly everybody is...
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Oct 31, 2012
10/12
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romney said he'll dump gm the moment he becomes president. but tim said that we'll wait until people are back to even. i think they'll get back to even. >> they say by mid decade in europe. >> i trust them. >> something we've been waiting to say all week long. the opening bell is coming up next. "squawk on the street" will bring it to you after this short break. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >>> welcome back. you're watching "squawk on the street" live from the financial capital of the world. opening bell set to ring in a little less than two mississinu. the man on
romney said he'll dump gm the moment he becomes president. but tim said that we'll wait until people are back to even. i think they'll get back to even. >> they say by mid decade in europe. >> i trust them. >> something we've been waiting to say all week long. the opening bell is coming up next. "squawk on the street" will bring it to you after this short break. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what...
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Oct 30, 2012
10/12
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gm said they will donate 50 chevy trucks to the red cross for use in recovery efforts. 3 m committed cleaning products, duct tape to the red cross. goldman sachs is setting up charging stations in conjunction with conrad, new york, and providi providing bottled water for residents. walmart is using its network to keep the word out about shelters by keeping website and twitter a counts updated with the latest information. >> thank you very much, courtney reagan. >>> restaurant in sandy's path facing head winds following storm damage. pizza maker papa johns has 600 locations near the storm. responsible for leading the company's global operations. joins us now from louisville, kentucky. great to have you with us. >> thank, melissa, great to be here. >> what sort of disruptions in terms of delivery and distribution are you seeing right now? >> well, as you said, we have 600 stores that were in the path of the storm. and last night we actually had between yesterday and last night 200 stores that were closed. and as of late this afternoon we still have around 100 that are still yet to be o
gm said they will donate 50 chevy trucks to the red cross for use in recovery efforts. 3 m committed cleaning products, duct tape to the red cross. goldman sachs is setting up charging stations in conjunction with conrad, new york, and providi providing bottled water for residents. walmart is using its network to keep the word out about shelters by keeping website and twitter a counts updated with the latest information. >> thank you very much, courtney reagan. >>> restaurant in...
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Oct 31, 2012
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back to nicole petallides to talk about that and gm today. nicole: the play-by-play, the best decision of all for everybody but we are talking about ford and gm, up arrows today and 6.5%, general motors trading upwards of 7% and both of these coming out. board yesterday and today general motors beat the street. they could see weakness in europe but this does not come as a surprise. the u.s. automakers are having a nice showing on this first day of trading. certainly a monumental opening after being closed for two days and many of these have no self service or internet service but nyse systems able to trade electronically and full force smooth opening for the new york stock exchange. when i talked with duncan neiderauer and he talked about electronic opening the truth is these big companies, goldman sachs and j. p. morgan would have to bring in someone somewhere even if we were trading electronically and just for keeping people lot of harm's way is what he meant when he talked about it being irresponsible to open any earlier than today. the pr
back to nicole petallides to talk about that and gm today. nicole: the play-by-play, the best decision of all for everybody but we are talking about ford and gm, up arrows today and 6.5%, general motors trading upwards of 7% and both of these coming out. board yesterday and today general motors beat the street. they could see weakness in europe but this does not come as a surprise. the u.s. automakers are having a nice showing on this first day of trading. certainly a monumental opening after...
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Oct 27, 2012
10/12
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KQEH
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mitt romney was the first guy-- barack obama took gm and chrysler through bankruptcy. mitt romney was for guaranteeing loans, and they're still trying to explain it. and he's very much on the fensive. so obama is runningve better with whnies and white males in ohio than he is elsewhere, in large part because of the auto bailout and they've got a great ground game in ohio too. >> we should emphasize it's not a slam-dunk for obama. if you look at the polls it's been a very steady two point advantages >> uh-huh. >> in the state for obama. and one of the oddities of the race so far is that the national numbers probably a slight romney favorite right now, the state numbers like ohio, and obama favored. and i don't know too many experienced political hands whoxpect that to continue, that you get at this junction between xphe national numbers and some of these swing state numbers. usually they come toeether. it's possible that if say romney gets a plurality or a majority of 50.6, it's possible to see him losing the eltoral college. if he's upl over 51 or 52, it's hard to reco
mitt romney was the first guy-- barack obama took gm and chrysler through bankruptcy. mitt romney was for guaranteeing loans, and they're still trying to explain it. and he's very much on the fensive. so obama is runningve better with whnies and white males in ohio than he is elsewhere, in large part because of the auto bailout and they've got a great ground game in ohio too. >> we should emphasize it's not a slam-dunk for obama. if you look at the polls it's been a very steady two point...
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Oct 31, 2012
10/12
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. >> obama took gm and chrysler into bankruptcy and sold chrysler to italians who are going to build jeeps in china. >> political contributor john avalon is joining us from youngstown, ohio. john, i understand that, first of all, there has been some pushback from the auto industry execs over the ad. how is this playing out? >> suzanne, it is fascinating. the auto industry here is a political issue, it is a personal issue, it is a pocketbook issue. it is very much a central focus of the debate. we have spoken to senators on both democrat and republican sides of the aisle, senator rob portman and sherrod brown about this ad. take a listen. >> i say it is the most disingenuous ad i've ever seen. they know better. they know the auto rescue worked. they know that ohio reasons connected directly or indirectly to the auto rescue and they know that governor romney and my opponent's opposition to the auto rescue, they're trying to crowd the issue and it is pretty outrageous. >> it is their game to the extent it is reported in the media and that's all they have said, there is reports this coul
. >> obama took gm and chrysler into bankruptcy and sold chrysler to italians who are going to build jeeps in china. >> political contributor john avalon is joining us from youngstown, ohio. john, i understand that, first of all, there has been some pushback from the auto industry execs over the ad. how is this playing out? >> suzanne, it is fascinating. the auto industry here is a political issue, it is a personal issue, it is a pocketbook issue. it is very much a central...
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Oct 28, 2012
10/12
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it wasn't like this was gm. he actually got rid of the employees, moved the jobs to china and moved his money to iraq off the coaa rock off the coast of france. >> if i'm reading the nation cover story or i managed to pick up greg's book,a rock off the ct of france. >> if i'm reading the nation cover story or i managed to pick up greg's book,a rock off the cf france. >> if i'm reading the nation cover story or i managed to pick up greg's book,a rock off the c france. >> if i'm reading the nation cover story or i managed to pick up greg's book,rock off the coa. >> if i'm reading the nation cover story or i managed to pick up greg's book, how do you turn this, which clearly seems to suggest a deception that should make us nervous as americans, how do you turn it into political strategy without whining that this guy made millions? >> i think one guy that the campaign is doing is making sure that the groups that support the president are getting this information out to their members, through their networks, that the
it wasn't like this was gm. he actually got rid of the employees, moved the jobs to china and moved his money to iraq off the coaa rock off the coast of france. >> if i'm reading the nation cover story or i managed to pick up greg's book,a rock off the ct of france. >> if i'm reading the nation cover story or i managed to pick up greg's book,a rock off the cf france. >> if i'm reading the nation cover story or i managed to pick up greg's book,a rock off the c france. >>...
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Oct 29, 2012
10/12
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you know, no trading of gm or google today. stock markets are closed. the nasdaq and new york stock exchange will shut down because of this storm. the nyse hasn't been closed for weather since hurricane gloria in 1985. the bond market will close early today at noon eastern. some 284,000 homes are in the path of this huge storm. 87 billion dollars in home at risk because of storm surge alone. protecting all that property meant a rush for retailers this weekend, selling flashlights, flywood, food, water. now the retailers are shutting their doors in the northeast and mid-atlantic and insurance companies are preparing for the claims about to come. quick reminder about your homeowners insurance. you want to check, soledad. you want to check and see what your coverage is. make sure you slide all of your paperwork in a ziplock bag and keep that with you. next couple of days will be crucial. >> very smart to do that now when it's not an emergency yet and you're holed up at home anyway. let's get to newark new jersey mayor cory booker. he comes on our show a fa
you know, no trading of gm or google today. stock markets are closed. the nasdaq and new york stock exchange will shut down because of this storm. the nyse hasn't been closed for weather since hurricane gloria in 1985. the bond market will close early today at noon eastern. some 284,000 homes are in the path of this huge storm. 87 billion dollars in home at risk because of storm surge alone. protecting all that property meant a rush for retailers this weekend, selling flashlights, flywood,...
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Oct 30, 2012
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. >> obama took gm and chrysler into bankruptcy and sold chrysler to italians who are going to build jeeps in china. >> reporter: campaigning in ohio with former president clinton, vice president biden blasted the ad as false. >> chrysler has fellow bliged to go public and say there is no truth to this. jeep has no intention of shifting production of its jeep models out of north america to china. >> reporter: and while mitt romney is technically not campaigning today, he's doing a storm relief event, savannah, in the state of ohio. >> all right. chuck, a lot of folks are asking us this morning, is there a possibility with these widespread power outages that could last days, if not weeks, is there a chance the election day itself could be delayed? >> reporter: it's very unlikely. look, the presidential election day is something that is set in the constitution. now, states run elections, and they can decide to postpone, if they wanted to, it's happened before. new york city, of course, postponed new york city elections on 9/11 on the day that it happened. they postponed that. now, that
. >> obama took gm and chrysler into bankruptcy and sold chrysler to italians who are going to build jeeps in china. >> reporter: campaigning in ohio with former president clinton, vice president biden blasted the ad as false. >> chrysler has fellow bliged to go public and say there is no truth to this. jeep has no intention of shifting production of its jeep models out of north america to china. >> reporter: and while mitt romney is technically not campaigning today,...
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Nov 1, 2012
11/12
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gm says a "they are operating from a parallel universe" they called it. here is the thing they got -- they call the "campaign politics at its cynical worst." that is not for another political party -- that is not for me candidate. that is not a newspaper or a blog. it is from a spokesperson for general motors. ladies and gentlemen, and after i made this assertion, earlier today in sarasota, they rushed congressman ryan out there. seriously. congressman ryan came out and put out a statement or held a press conference. he said, the fact artifacts. by the way, the ultimate irony of this, the ultimate irony of this is, whenever the president talked about romnesia. it is contagious. congressman ryan has caught it. let me tell you the facts. congressman ryan voted with us. he voted in the congress with us. before he saw romney. he said, these are the facts. he is asserting the ad factually true. let me tell you the facts. the facts are, congressman, 1 million people are worker would not have been. 200,000 new jobs. governor romney wrote an editorial called "let
gm says a "they are operating from a parallel universe" they called it. here is the thing they got -- they call the "campaign politics at its cynical worst." that is not for another political party -- that is not for me candidate. that is not a newspaper or a blog. it is from a spokesperson for general motors. ladies and gentlemen, and after i made this assertion, earlier today in sarasota, they rushed congressman ryan out there. seriously. congressman ryan came out and put...
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Oct 29, 2012
10/12
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. >> obama took gm and chrysler into bankruptcy and sold chrysler to the italians who will build jeeps in china. mitt romney will fight for every american job. >> reporter: john kasich said the bailout impact on ohio has been overstated. >> when you take into account the companies and suppliers you're up 400 jobs. we didn't grow ohio's economy on just one industry. >> but his predecessor pushed back. >> i believe that the table was set by president obama and ohioans recognize that and i think that's why the president is going to win ohio. >> reporter: both campaigns in the wake of sandy have called off fundraising, emails and any fundraising events in any of the affected states. mitt romney's campaign put out word he spoke with the republican governors of states impacted on the storm,er name dropped chris christie and bob mcdonnell. the president will be in the situation room dealing with fema and that fallout. this is the october surprise but we don't know what it all means in eight days. savannah? >> chuck todd, thank you. joe scarborough and mika are hosts of "morning joe." >> one t
. >> obama took gm and chrysler into bankruptcy and sold chrysler to the italians who will build jeeps in china. mitt romney will fight for every american job. >> reporter: john kasich said the bailout impact on ohio has been overstated. >> when you take into account the companies and suppliers you're up 400 jobs. we didn't grow ohio's economy on just one industry. >> but his predecessor pushed back. >> i believe that the table was set by president obama and...
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Oct 29, 2012
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the gm's going to be fired. and i'll tell you, rex either plays ball with him or rex is going to have to go. >> he didn't bring tim tebow in to cover punts. >> helmet on the entire time. >> valerie jarrett next. >> rex ryan has a problem with tim tebow. play him or trade him. >> valerie jarrett next. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ >>> welcome back to "morning joe." a live look at the capitol. and boy, mika, washington is going to get absolutely hammered. >> hammered. >> hammered. jersey is. all up and down the coast. we'll see what happens. >> two things about this, the storm surge, obviously, not looking like it's going to be backing off, but also the length of this storm. once it hits, it doesn't go away for quite some time. >> it's going to go for a while. >> it's going to be grueling. >> i think in the northeast the storm surge will probably be the worst coming into the city. i'd be surpri
the gm's going to be fired. and i'll tell you, rex either plays ball with him or rex is going to have to go. >> he didn't bring tim tebow in to cover punts. >> helmet on the entire time. >> valerie jarrett next. >> rex ryan has a problem with tim tebow. play him or trade him. >> valerie jarrett next. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ >>>...